is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Vehicle Type (Passenger Vehicle and Commercial Vehicle); Sales Channel (OEM and Aftermarket); Region/Country.
The Automotive Carbon Canister Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the automotive carbon canister market. The automotive carbon canister market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the automotive carbon canister market at the global and regional levels.
Market Overview
The automotive carbon canister market is expected to grow at a steady rate of around 5% owing to the surge in consumer and passenger automobile production. An automotive-activated carbon canister is a device that stores and captures fuel vapor and releases purified air, thereby safeguarding the air and the general climate from unburned fuel vapor. The carbon canister is typically situated at the lower part of the gas tank to gather vapor of gas including hydrocarbons and carbon dioxide. The activated carbon canister is of incredible importance to vehicles, and the exhibition of the actuated carbon canister works on the control of auto fuel evaporative discharges.
The major key factors such as increasing air pollution due to industrialization, the high demand for compact engines, and the expansion in carbon fuel byproducts are further expected to drive the automotive carbon canister market during the forecast period. For instance, according to the United Nations Environment Programme (UNEP), air pollution is the greatest environmental threat to public health globally and accounts for an estimated 7 million premature deaths every year.
Some of the major players operating in the market include Robert Bosch GmbH, Continental AG, HELLA GmbH & Co. KGaA, Ingevity, ACDelco, Ford Motor Company, Nissan Motor Co. Ltd., ROKI Holding Co. Ltd., Toyota Motor Corporation, Mopar
Due to restrictions by the government on the manufacturing and transportation sectors, the carbon canister market is facing serious problems in both production and transportation. The pandemic has had a negative impact on the automotive carbon canister market size for the year 2020, a major deviation is noticed in the growth of automotive carbon canister manufacturers due to the coronavirus. Since the COVID-19 epidemic has considerably diminished by the beginning of 2021, a lot of businesses are resuming operations. In terms of demand and supply, China, as an automobile manufacturing powerhouse, is controlling the global automotive industry. China's supply shortages have triggered a chain reaction throughout the world.
The global Automotive Carbon Canister Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on vehicle type, the market is segmented into passenger vehicle and commercial vehicle. The passenger vehicle category is to witness the fastest growth rate during the forecast period. This is mainly due to rising ambient temperature and heat all over the globe is also increasing the temperature of vehicle fuel tanks. As a result of this, fuel in the fuel tank also gets evaporated which tends to cause fuel loss.
· On the basis of sales channel, the market is categorized into OEM and aftermarket. Among these, the OEM category is to witness the fastest growth rate during the forecast period. Owing to rising worldwide air pollution and the government has imposed stringent norms to curb fuel emissions and made it mandatory for all automotive OEMs to install carbon canister devices in their vehicles.
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of the automotive carbon canister industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at the fastest rate during the forecast period. This is mainly due to the rising awareness of eco-friendly product development. Moreover, the presence of major OEMs in developing countries is the major factor that is maintaining the lucrative growth of the market in the Asia Pacific. In addition, the growing preference for the fuel-efficient engine as well as light commercial vehicles can be considered the factors that drive the growth of this market in the region.
The major players targeting the market include
· Robert Bosch GmbH
· Continental AG
· HELLA GmbH & Co. KGaA
· Ingevity
· ACDelco
· Ford Motor Company
· Nissan Motor Co. Ltd.
· ROKI Holding Co. Ltd.
· Toyota Motor Corporation
· Mopar
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the automotive carbon canister market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the automotive carbon canister market?
• Which factors are influencing the automotive carbon canister market over the forecast period?
• What are the global challenges, threats, and risks in the automotive carbon canister market?
• Which factors are propelling and restraining the automotive carbon canister market?
• What are the demanding global regions of the automotive carbon canister market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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